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Dish TV promoter cos offer to buy 26% stake for Rs 37-bn at Rs 74/share

Shares of Dish TV were trading 2.98 per cent higher at Rs 76 apiece on the BSE on the morning trade

Press Trust of India  |  New Delhi 

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Promoter group entities of have made an offer to buy an additional 26 per cent equity stake from public of the direct-to-home (DTH) player for Rs 37.01 billion.

In a public announcement made to the shareholders, promoter entities World Crest Advisors LLP, together with and Direct Media Distribution Venture Pvt Ltd, announced an offer to acquire shares of at a price of Rs 74 per share.

The offer is being made to all the of to acquire up to 500,187,979 shares of the company that form 26 per cent of the emerging share capital, payable in cash.

The open offer price is about 3 per cent lower than the current price of at Rs 76 on the

Last month, after over a year of snag, the merger of operators India and was concluded.

Shares of were trading 2.98 per cent higher at Rs 76 apiece on the on the morning trade.

First Published: Thu, April 12 2018. 16:05 IST